I heard on NPR today that individuals with a college education earn up to a million dollars more in their lifetime than those without a formal education. I know money isn't everything but this certainly proves there is a "value" to an education.
students with college degrees can, on average, expect to earn more than $1 million during their lifetimes (based on the dollar's value in 1992).
The gap between the earnings of people with a high school diploma and those with more advanced education has grown over the last two decades, and the Census Bureau projects that the gap will widen even more in the future.
The New York Times reported in June 1998 that many studies confirm "that the gains from post-1970s economic growth have eluded unskilled workers. The median wage of those with only a high school diploma fell by 6 percent, adjusted for inflation, from 1980 to 1996, while the earnings of college graduates rose by 12 percent."
These trends are expected to become even stronger in the future as employers continue to search for more highly educated workers. In the next century, in what one expert has referred to as the "emerging knowledge society," the ability to keep pace with changing technology will be even more important. This means that people who know how to acquire additional education will stay ahead, while those who do not possess good learning skills are likely to fall behind.
As one expert put it, "The smartest long-term investment you make could be in yourself. The best example of investing in yourself is getting a college degree."
Other Advantages
A good college education can offer other benefits and advantages. College graduates are generally less likely to become unemployed, and their broad education gives them more flexibility in adjusting to the job market. Furthermore, highly educated employees continue to earn good salaries until retirement, while other workers often lose income when they grow older. These economic advantages, plus the many ways that knowledge acquired in college enhances all aspects of your life, mean that the decision to attend college is one of the most important choices you will ever make to improve your future.
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